How Trump Happened. Joseph Stiglitz.

Why would Americans be playing Russian roulette, for that is what even a one-in-six chance of a Trump victory means?

It is no surprise that Trump finds a large, receptive audience when he says the state of the economy is rotten. Real (inflation-adjusted) wages at the bottom of the income distribution are roughly where they were 60 years ago.

The US economy as a whole has done well for the last six decades: GDP has increased nearly six-fold. But the fruits of that growth have gone to a relatively few at the top – people like Trump, owing partly to massive tax cuts that he would extend. 

At the same time, reforms that political leaders promised would ensure prosperity for all – such as trade and financial liberalization – have not delivered. Project Syndicate

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